RDNT token rises 20% following Radiant Capital’s new liquidity plan

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Radiant Capital’s RDNT token surged 20% following the introduction of a proposal aimed at optimizing the issuance program and improving cross liquidity, according to data from CoinGecko.

Radiant Capital recently submitted RFP-44, a proposal to refine the distribution strategies originally set forth in RFP-35. Instead of using qLP as the basis for determining airdrop allocation, it proposes using qRDNT, which represents the total amount of RDNT locked in a user’s cross-chain portfolio.

As part of RFP-44, 25% of the future RDNT token supply, totaling 125 million RDNT tokens, will be allocated to users who lock their tokens. The strategy is designed to incentivize token holders to commit to locking in their assets, thus increasing liquidity and stability within the ecosystem.

The proposal also aims to implement a chain-independent approach to block RDNT tracking and uses a weekly rebalancing and streaming mechanism for fair emission distribution. Additionally, it introduces a 24-hour grace period that will allow users to re-lock their positions and maintain their qRDNT status, preventing forfeiture.

The team says the Radiant app will be updated to display qRDNT balances, alert users to reblock deadlines, and provide information on weekly rebalancing.

As noted, the voting period for this proposal runs from August 31, 2024 to September 5, 2024, with current results showing overwhelming support.

Implementation of RFP-44 is anticipated to enhance Radiant Capital’s operational efficiency and user engagement without incurring additional costs.

Following the introduction of the proposal, the RDNT token rose from $0.078 to $0.095, representing a 20% increase, according to CoinGecko. The price has since settled at around $0.093.

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